In this episode of "Law and Financial Order," financial advisor Robyn Wolcott and attorney Erin Duques discuss the use of trusts in estate planning. They explore how trusts can be used to protect your assets from potential divorce or creditor issues that your children may face, as well as the differences between revocable and irrevocable trusts and how each can be used for different purposes.
The episode also covers the importance of properly "funding" your trust by retitling your assets in the name of the trust, and the need to regularly review and update your estate plan as your life circumstances and the legal landscape change over time.
Throughout the discussion, Robyn and Erin emphasize the importance of working with a qualified estate planning attorney to ensure that your plan is tailored to your specific needs and goals.
